Mining profitability, if ever?

[precrime3]

Besides speculation mining, has mining ever been profitable, or ever will be? And if so is the money in sha or scrypt? I've got $1500 USD, so thast either 360 gh/s ( 2 antminers) or a 2.64 mh/s rig (6 r9 270). I DO NOT want to buy BTC and just wait, im impatient

[kooke]

At this point you're better off mining Scrypt coins. SHA ASICs are not really worth it unless you're a big player.

[precrime3]

Worth it at all? Because it seems two antminers will make the most money, short term at least. I can add a third, and always sell it off on ebay, as it seems there's a demand for it xD

[thresher]

Don't buy the scrypt coin mining nonsense.  Run the numbers.
Don't let people tell you asics hardware can't be resold when unprofitable.  People are selling those 336mhs miners for crazy prices, when in reality any more than $1 per unit will surely fuck you.

Why would you buy a gpu for scrypt when asics are here, and will probably only get more powerful?
Would you rather cut down a tree with an axe or a chainsaw?

[RobFordWotWot]

The bonus for scrypt is that gpu's are computer components with multiple uses.

ASICS are way out of your price range.

Honestly the best thing to do would be to buy btc with your $1500 and flip it through alt-coins.

That's not particularly easy if you have no clue what you're doing though.


My advice: If you're looking for a hobby and play video-games/edit-video/etc. buy a scrypt set-up and mine on the side for fun more-over than profit.

If you're itching to make money and have confidence that you understand the market, buy BTC and flip it. That can eat your money quick though if you make poor decisions.

Scrypt isn't very profitable but it will probably repay the price of the hardware over the course of a year.

[precrime3]

Don't buy the scrypt coin mining nonsense.  Run the numbers.
Don't let people tell you asics hardware can't be resold when unprofitable.  People are selling those 336mhs miners for crazy prices, when in reality any more than $1 per unit will surely fuck you.

Why would you buy a gpu for scrypt when asics are here, and will probably only get more powerful?
Would you rather cut down a tree with an axe or a chainsaw?

Haha powerful words my brother. I plan on buying 3 antminers, mining them, selling up to s2, or waiting for it to drop, which ever is faster. Than mine on that, get some scrypt asics, and spread the risk. Anything im missiing?